Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Market Commentary

| More

Weekly expiry ends higher above 10700: Angel Broking

Posted On: 2020-07-16 10:18:22


Daily Market Wrap Up by Mr. Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking):

"Yesterday's tail end correction was followed by yet another gap up opening in our markets; courtesy to bumper opening in IT Giant, Infy post its stellar quarterly numbers. However, once again this hollow opening got sold into as markets cooled off in initial trades. For the major part of the day, index traded on a flat to positive note. All of a sudden, at the stroke of the penultimate hour, the buying momentum accelerated to conclude the weekly expiry well above 10700 mark by recouping major portion of previous day's losses.

Today's decent recovery from lower level was no surprise to us as we had clearly advised staying hopeful as long as Nifty defends a key support of 10550. Technically speaking, we were observing a positive divergence in hourly time frame RSI-Smoothened oscillator in Bank Nifty early in the morning. This became one of the major catalysts in driving today's recovery. Now price-wise, the hourly time frame chart exhibits a 'Triangle' pattern and a move beyond 10775-10800 would lead to a breakout from this price configuration.

Hence with continuation with our recent stance, we expect the Nifty to surpass the 10850 quite soon. On the flipside, 10650 followed by 10550 has become a strong support zone. Traders are advised to keep following individual stocks and trade with a positive bias as long as 10550 remains intact."


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Market Wrap - Sep 24, 2020 - Mr. Aamar Deo Singh, Head Advisory, Angel Broking Ltd

Technical View - Sep 24, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Negative global cues weigh heavily on the expiry day: Angel Broking

Daily Markets - Sep 24, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 24, 2020 - Bonanza Portfolio

Mid-day market comment - Sep 24, 2020 - Angel Broking

Daily Market Wrap - Sep 23, 2020 - Angel Broking

Market fails to capitalize on the positive opening: Angel Broking

Daily Market Commentary - Sep 23, 2020 - Bonanza Portfolio

Daily Markets - Sep 23, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Technical View - Sep 22, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Intraday pullbacks face selling pressure: Angel Broking

Daily Markets - Sep 22, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 22, 2020 - Bonanza Portfolio

Mid-day market commentary - Angel Broking

Rollover Analysis (September 22): Highest Put base at 11000 remains crucial support in settlement week...

Technical View - Sep 21, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

PCR-OI surged 11% amid broad base meltdown: Angel Broking

Market tumbles on geopolitical concerns: Angel Broking

Daily Market Commentary - Sep 21, 2020 - Bonanza Portfolio

Technical & Derivatives Report - 21st September 2020 - Angel Broking

Daily Markets - Sep 21, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Some tentativeness around 11600 - 11650: Angel Broking

Market Outlook - Technical - Sep 18, 2020 - Dharmesh Shah, Head - Technical, ICICI direct

Derivatives Weekly View (September 18): Nifty likely to consolidate around 11500 in expiry week - ICICI Securities

Daily Markets - Sep 18, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Technical View - Sep 18, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Global weakness leads to some profit taking: Angel Broking

Daily Markets - Sep 17, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Wrap Up - Sep 17, 2020 - Angel Broking

Daily Market Commentary - Sep 17, 2020 - Bonanza Portfolio

Technical View - Sep 17, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Wrap-up - 16th September, 2020 - Angel Broking

Daily Market Commentary - Sep 16, 2020 - Bonanza Portfolio

Technical View - Sep 16, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Nifty reclaims 11500, courtesy to late surge in banking stocks: Angel Broking

Daily Markets - Sep 15, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 15, 2020 - Bonanza Portfolio

Market Wrap-up - Sep 15, 2020 - Angel Broking

Technical View - Sep 15, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - 15th September, 2020 - Angel Broking

Morning Newsletter - September 15 - YES Securities

Daily Markets - Sep 14, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Stellar move in broader market, benchmark erased gains: Angel Broking

Market Wrap-Up - Sep 14, 2020 - Angel Broking

Daily Market Commentary - Sep 14, 2020 - Bonanza Portfolio

Technical View - Sep 14, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Mid-market performance - 14th September, 2020 - Angel Broking

Some respite after last week's hiccup: Angel Broking







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019